Wednesday, February 25, 2015

The mechanics of trust-building in financial services

Financial service companies are in need of a fresh start following the recent crisis in the sector. In this regard, companies see it crucial to regain the trust and loyalty of not only existing customers, but also new ones. Part of the challenge is dismantling discomfort in traditional practices that have failed to meet customer expectations.

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In its annual global study, the Edelman Trust Barometer reported that unethical business practices, failure to keep customer information secure, irresponsibility during a crisis, sub-standard work conditions for employees, and misrepresentations within and for a company are major causes of clients’ distrust.

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Furthermore, the report identified key attributes that result in winning back customer confidence. Customer engagement and integrity of products and services are seen as the most relevant elements in building trust. In recognizing and understanding customer preferences and needs, financial service companies are expected to deliver improved service, fight and challenge biases and doubts, widen the transparency clause to bridge the trust gap, allow clients seamless access to information relevant to their financial goals, and make them proactive partners every step of the way.

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Opportunities come with the changing landscape of the financial services market. Providing true value and the best outcomes to clients entails building customer confidence and trust. To achieve this, financial service companies must strengthen and maintain a constructive relationship with clients and partners, while adhering to standards set by integrity as they work collaboratively in protecting, managing, and growing client assets.  

Offering world class financial services, Breder Suasso is a company that guarantees a personal approach for each client to maintain high levels of efficiency and confidentiality. Visit this website to learn more about the company’s financial services and products.